retirement savings

Stop Treating Your Retirement Account Like a Piggy Bank

We all know how important it is to set money aside for retirement. Unfortunately, when it comes to building a nest egg for their golden years, millions of Americans are moving in the wrong direction by taking money out of retirement accounts early.

Retirees: Don't Miss Deadline for Required IRA, 401(k) Distributions

Smart retirees have done everything they could lately to stretch their retirement accounts, but taking too little out of them will get you into big trouble with the IRS. Fail to withdraw your full required minimum distribution, and the penalty you pay to the tax man will be severe.

Even the Rich Can't Retire When They Planned to Anymore

The long recession and slow recovery have forced millions of average Americans to give up their dreams of retiring at 65. But you might be surprised to learn than even among those who have quite a bit of money stashed away for retirement, the vast majority are planning to work longer, too.

Retirement Savings by Age: How Do You Compare?

How much do people have saved for retirement in their 30s? In their 40s? In their 50s? LearnVest conducted a nationwide survey to find out. Wondering how your portfolio balance stacks up? Take a look at the breakdown and find out.

Good Genes Are Priceless, but They Can Make You Millions, Too

Antisa Khvichava of the Republic of Georgia died earlier this month at a reported age of 132. And if none of us are going to live quite that long, her example is still a good reminder that our ever increasing life span has some critical implications for our long-term financial planning.

Are Swing States Doing Better at Retirement Savings Than the Rest?

When it comes to the economy, we tend to focus on our personal financial health -- things like how well our retirement savings are doing. Investment advisory firm FutureAdvisor's state-by-state breakdown sheds some interesting light on where people are getting ahead, and where they're falling behind.

Fix This Roth IRA Mistake Before the IRS Nails You

Using Roth IRAs to save for retirement is one of the smartest moves you can make. What's not smart, however, is breaking the IRS rules governing IRAs. Fortunately, if you accidentally break the rules you can go back and fix things -- as long as you don't wait too long.

How to Pick the Juicier 401(k) Plan

Roth 401(k)s used to be fairly rare; now, they're starting to crop up by the bushelful. But while they may be the hot new investment, but the tax implications mean Roth 401(k)s aren't for everyone. To see if you'd benefit, ask yourself the following questions:

The Rules of Retirement for Women

According to a GAO report, women have a tougher time saving for retirement than men do. But women of all ages can take some steps to improve their financial readiness.

Here's an Easy Path to $1 Million

As crazy as that magic $1 million mark may seem, it's actually possible to reach for nearly anyone with steady work and the discipline to consistently sock away a little bit every month. Here's how.

Social Security Not the Deal It Once Was for Workers

People retiring today are part of the first generation of workers who have paid more in Social Security taxes during their careers than they will receive in benefits after they retire. It's a historic shift that will only get worse for future retirees.

Ladies: Don't Plan for Your Retirement Like a Man

When it comes to retirement planning, women face a set of gender-specific financial challenges that require intensive effort to overcome. Here's a look at these obstacles, and what women can do to avoid getting tripped up by them.

401(k) Fees: What You're About to Learn Will Shock You

When investors open their 401(k)statements this fall, they'll finally be able to see in detail how previously hidden fees have been chipping away at their retirement savings. That's a good start: Here's how to let that news shock you into action.

10 Smart Uses for Your Tax Refund

Tax refund checkBy Kimberly Lankford, Kiplinger


If you have a refund check coming your way, consider using it to bolster your personal balance sheet. The average...

Retirement Shocker: 60% of Us Don't Have $25K Saved

Concerns about job security and piles of debt have left American workers more pessimistic about retirement than ever. And many should be concerned: About 60% report total savings and investments of under $25,000 (excluding the value of their home and defined benefit plans.)

Social Security's Failing Even Faster Than We Thought

Last year, the Social Security Administration warned that the program's trust fund was likely run out of money in 2036, leading to deep cuts in benefits. Now, the Congressional Budget Office says that projection may have been too optimistic.

Readers' Tips for Financial Revival, Part 1: Smart Saving

A few weeks ago, we asked DailyFinance readers for their best tips for putting your financial house in order. Many were quick to note that the foundation of financial security lies in being ready when disaster hits. Here are some of their best suggestions for planning for those rainy days.

Today's Retirement Myth: $1 Million Is Enough

$1 million is a lot of money, but assuming that should be your retirement funding goal can be dangerously simplistic. So before you spend the next few decades over- or under-saving, assess whether $1 million is enough -- or too much -- to fund your plans.

The Secret Your Boss Is Keeping About Your 401(k)

Many companies have done away with pensions, replacing them with 401(k) plans and related options that put responsibility for retirement saving squarely on you. But those same corporations have also been pushing to keep you in the dark about the plans' costs.

U.S. Retirement Assets Declined by $1.4 Trillion

More ominous developments on the darkening retirement front: The total value of Americans' retirement assets stood at $17 trillion at the end of September -- a drop of 7.5% from the record high of $18.4 trillion recorded on June 30, 2011.

Terror for Adults: Check Out These 5 Scary Numbers

Boo! It's the season of ghosts and goblins, when we like to scare ourselves and each other. But while Halloween frights are generally lighthearted and short-lived, there are some truly scary facts out there regarding our finances -- ones we'd do well to know about and beware of.

Balancing Student Loans With Saving for Retirement

A 52-year-old single mom needs to save for retirement, but her cash flow is strangled by rising student loan payments for herself and her sons. How can she minimize her loan payments and free up cash for retirement savings? DailyFinance's Laura Rowley offers some tips.

Divorced Mom: How Do I Rebound Financially?

Splitting up makes a mess of your finances,as Lynn, a nurse living in Florida knows all too well. Her 2008 divorce from her husband of 28 years left her in debt, with bad credit, and with limited financial skills. She's already begun to dig out, but she needs a better plan.

Why It Doesn't Pay to Be Too Optimistic Financially

When it comes to managing financial matters, you can't go wrong by hoping for the best but planning for the worst. In other words, underpromise and overdeliver. What does that look like in real life? Read on for some figures and calculations that point the way towards prudent retirement planning.